M. Holland is the headline sponsor for AMI’s Thermoplastic Concentrates in Orlando on Jan. 24-26. Stop by Booth #16 to speak with our experts and attend a talk on regulatory compliance changes by Christopher Thelen, M. Holland’s Senior Regulatory Specialist, on Jan. 24 at 4:20 pm.
M. Holland will be exhibiting at MD&M West in Anaheim on Feb. 7-9. Stop by Booth #4115 to meet our Healthcare team and discuss how M. Holland’s line of medical-grade resins can help you develop safe and effective medical products and packaging.
Every year, M. Holland’s market managers take time to reflect on the major trends of the past 12 months. Click here to read our 2023 series, including business insight and recommendations for 3D printing, automotive, color and compounding, electrical and electronics, healthcare, packaging, rotational molding, sustainability, and wire and cable.
Oil prices fell 1.3% Monday as easing COVID-19 restrictions in China raised hopes of a demand recovery in the world’s top crude importer.
In mid-morning trading today, WTI futures were up 0.9% at $80.55/bbl, Brent was up 1.9% at $86.08/bbl, and U.S. natural gas was up 8.6% at $3.71/MMBtu.
U.S. natural gas production is expected to grow more than 2% this year to a record daily average of 100.3 billion cubic feet, the Energy Information Administration says.
U.S. retail prices for gasoline and diesel are forecast to decline the next two years, according to the U.S. administration:
A survey of 1,000 energy professionals pegged the average forecast for oil prices through 2027 at $90/bbl, with $87/bbl forecast for 2023.
Russia’s seaborne crude exports soared 30% last week to the highest level since April, suggesting the country has overcome an initial hit to flows that followed tighter European sanctions.
High fuel stockpiles in China are forcing more importers to direct natural gas to Europe, where prices fell 12% Monday to the lowest level in 16 months:
Moscow’s critical oil revenue is under further pressure with the average crude price the government uses to calculate its taxes down to a two-year low at $46.82/bbl.
Germany’s hard coal demand from coal-fired power stations rose by 16% last year, the second straight yearly rise.
India’s imports of Russian crude hit a record-high 1.2 million bpd in December, about 33 times higher than the same time last year, after new Western sanctions on Moscow led to deep discounts on Russian fuel.
Germany signaled support for a Spanish plan to reform Europe’s electricity market by decoupling the cost of renewable power from gas prices, preventing renewable sources from benefiting from higher prices linked to gas.
Global investment in clean energy technology needs to soar to $4.5 trillion by the end of the decade for countries to have a shot at reaching net-zero 2050 goals, the International Energy Agency says.
Thyssenkrupp’s plant engineering unit plans to double sales over the next several years with a focus on building more sites for the production of ammonia, a key feedstock for green hydrogen.
Companies in the S&P 500 are projected to boost capital spending by an estimated 6% this year compared to 20% in 2022, a response to higher financing costs and rising economic uncertainty, according to Ernst & Young.
Conagra Brands raised prices 17% in the latest quarter, adding to the 10% hike it imposed in the previous two quarters.
In the latest China news:
China’s economy grew at a weak but better-than-expected pace of 2.8% in the fourth quarter, dragging down full-year growth to 3%, a near 50-year low.
German wholesale price inflation rose to 12.8% year over year in December, the softest rise in 1.5 years:
Tens of thousands of British nurses plan to strike in February for the third time in as many months, putting pressure on the country’s new government and threatening further disruption in the healthcare sector.
Producer prices in Japan surged 10.2% year over year in December, exceeding market expectations on a mixture of high global commodity prices and a weak yen.
Canadian manufacturing sales were flat in December following a downwardly revised 2.4% increase the previous month.
The majority of Canadian businesses expect a mild recession in 2023 as higher interest rates curb investment plans, according to a new survey.
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